New York, USA, July 12, 2021 (GLOBE NEWSWIRE) -- A recently published report by Research Dive provides a detailed description of the global contract development and manufacturing organization market and its contributions during the pandemic. The report also provides a glimpse into the revenue the market is expected to garner which stands at $317.5 billion, increasing further at a CAGR of 12.4% from 2019-2026. The report is drafted upon considering the various factors that have an impact on the market such as market drivers & limitations, newest trends & advances, and the regional outlook.
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Highlights of the Report
- The CAGR of the global contract development and manufacturing organization market, as estimated before the outbreak of the COVID-19 pandemic, was 9.8% over the forecast period 2019-2026.
- The CAGR of the global contract development and manufacturing organization market, as estimated post the onset of the novel coronavirus crisis, is expected to be 12.4% during the forecast period 2019-2026.
- The market size of the contract development and manufacturing organization market in 2020, as projected before the COVID-19 pandemic began, was $ 152.2 billion.
- The real-time market size (2020), bearing the after-effects of the COVID-19 pandemic, is $ 178.9 billion.
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Current Market Scenario amidst the Pandemic
The global contract development and manufacturing organization market experiences a tremendous growth in the forecast period due to the effects of COVID-19. The implementation of lockdowns all over the world majorly affected the supply chain. But the various brands and manufactures were able to expand their inventory while also getting assistance from government officials to boost their sales. These factors are set to add to the growth of the CDMO market in the forecast period.
Also, many pharmaceutical industries were facing issues as a result of the lockdown which is predicted to be solved due to companies turning towards CDMO for a solution.
Post Pandemic Market Report
There has been a steady rise in the need to ensure that the tasks of the day are completed at a quicker pace. To add further, several strategic collaborations among companies along with investments in the market have been primary factors responsible for the growth of the contract development and manufacturing organization market in the future.
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Key Market Players and Developments
The report also provides a detailed list of recognized market players whose contributions have helped the industry grow further. The key players are as listed below:
- Thermo Fisher Scientific, Inc
- Siegfried Holding AG
- Lonza Group Ltd
- FAMAR Healthcare Services
- Almac Group Ltd
- The Lubrizol Copr
- Recipharm AB
- FAREVA SA
- Catalent Inc
- Aenova Golding GmbH
In November 2021, Famar Healthcare Services, a provider of top-quality contract manufacturing and development services, announced the company’s acquisition by Delpharm, another pioneer in the field. This acquisition is predicted to expand Famar’s boundaries further with the launch of over 17 manufacturing sites in Orleans, which is set to help the company grow.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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